Yearly Budget

[Guest seedstrike]

Hey guys,

 

Do you know where I can find a breakdown of the estimated yearly expenses I would expect to incur at Queen's (ie tuition, room and board, books, equipment, etc. I need to draw out how much $$ I should expect to spend each year and how much loan i should budget for myself.

 

Thanks.

 

P.S. Is this info. sent out with the acceptance package because I haven't recieved mine yet and I can wait for it to arrive?

[Guest QM6]

Hey seedstrike,

 

Here's a little blurb by one of the MD Management guys about Student Finances. In your acceptance package that you should get early/mid-July, there should be a green glossy guide about "Financing your Queen's education" that details some expenses and has more info about the bursary programmes here.

 

By all means, apply for government loans now if you can - as for bank loans though, many of us waited until Orientation Week, there's one day that all the banks come by and explain their deals (and give away free stuff too), and you'll hear more about bank loans then. Plus, branches away from any med schools might be unaware of the special deals you're entitled to, so you might want to set all your finances up here in Kingston.

 

Hope this helps, good you have you on board!

[Guest RAK2005]

Fees for next year

 

Above is the cost for next years tuition (around 14.5 k). Rent varies b/w $ 450 - 1000 for a one bedroom here as well. You can probably skip getting a car for the next few years in Kingston and general costs of food booze etc. are quite reasonable in comparison to TO, or Ottawa.

 

As for equipment, figure $600-900, books around $2000 leave room for some Clinical Skills clothes

 

That being said, I am 75k in the hole after 2 full years. Depressing isn't it ?!

[Guest seedstrike]

Thanks for the replies guys.

 

I've got one more question. I got the impression from reading other threads that when you get bank loans, you have to pay off the accumulated interest monthly. Can you not put off paying any money until the end of the four years like osap or do you have to pay back some interest for bank loans while you are in school?

 

Thanks

[Guest QM6]

I know that I had to pay a minimum amount each month on interest for my line of credit, and I don't think there's any way around that at any bank (if there is, then I guess I'm with the wrong bank!). Fortunately my experience with provincial loans was pretty good, I was able to pay off the bank loan with government $ and not have to worry about it for now.

[Guest RAK2005]

I *think* Scotiabank may allow the interest to accrue without monthly payments. Best to check with the individual banks though, of course.

[Guest Ian Wong]

Floating to the top...

 

Ian